Bengaluru, 16th January, 2024: Building upon its robust track record, Justdial, India’s no.1 hyperlocal business search engine, witnessed remarkable financial growth, with Q3 FY24 revenue reaching its highest ever at ₹265.0 crores, marking an impressive 19.7% year-on-year increase. This substantial growth underscores the company’s resilience and adaptability in a dynamic economic landscape.
The net profit for the quarter soared to ₹92 crore, showcasing a 22.3% increase year-on-year, yet another record for the books. Justdial’s commitment to enhancing efficiency and cost control strategies has resulted in improved EBITDA margins, demonstrating a significant enhancement from the previous year’s performance.
Justdial has been consistently and steadily growing quarter on quarter since the past nine quarters. Reinforcing its position as a frontrunner in the Indian market, the company sustained its upward momentum. Operating EBITDA stood at ₹ 60.4 Crores, a 122.8% year-on-year increase, with EBITDA margin of 22.8%. PBT stood at ₹ 120.9 Crores, up 38% YoY.
Mr. Shwetank Dixit, Chief Growth Officer, Justdial, said, “In Q3, Justdial’s growth reflects our dedication to excellence, driven by focused efforts towards our business partners and consumers. Additionally, our emphasis on efficiency is evident through the adoption of generative AI and the implementation of process automation. Positioned as a forward-thinking company, we efficiently manage costs while optimizing revenues, navigating industry changes with resilience. Justdial remains dedicated to reshaping the way businesses and consumers connect in this ever-evolving digital age.”
With a focus on user-friendly features and accurate information, Justdial continues to foster high user engagement. The company expanded its network of active businesses during this quarter, taking the active business count to 41.6 million (as on 31 December 2023).
In line with our commitment to business excellence, Justdial proudly presents the Business Excellence Awards. With two successful editions completed, we have four more in the pipeline, targeting 40 cities this year. These awards not only recognize local businesses but also provide a networking platform and foster cross-selling opportunities. Beyond accolades, our mission extends to educating businesses on the effectiveness of digital platforms for growth, informing them about relevant government schemes for MSMEs, and guiding them on leveraging Justdial for success. We aim to be more than an awards program — a catalyst for holistic development in the digital age.
Justdial’s growth narrative is more than numbers; it is a testament to the company’s dedication to delivering quality services while creating value for businesses. The platform’s commitment to empowering small and medium enterprises remains steadfast, reflecting a consistent path towards success amidst challenges and uncertainties. The company remains poised for continued growth and success as it continues to pioneer advancements in the digital local search space.
